Money News

Gold named best investment

Thu 11th Mar 2010

Adrian Lowcock, senior investment advisor at Bestinvest, named gold specifically as the asset which showed the best performance and said this contrasted with the decade of the 1990s when technology, media and telecommunications was favoured higher by people who thought that the metal "had had its day".

Talking about the current value of gold, he said: "It has got to the point where it is probably insanely valued and to some extent I think investors shouldn't chase the performance going forward."

During this decade, gold was the best performing asset class of all the precious metals, above platinum and silver, charting a 242 per cent rise while property followed far behind with a 187 per cent increase.

The cost of gold stood at £744.330 per ounce on March 9th, according to the Bank of England, which is higher than the annual average of 2009 of £621.952.